You should be getting a 10% "management fee" ($250 on the example above that has gross rents of $2,500) PLUS the investment income of $400, or it's not a true reflection of this property as an investment.

Reflective of the percentages represented in the purchase.

As I reflect, I can think of some things my partner and I did great as well as some mistakes that we made.The Good:1.

 I wanted to add to clarify, and not to go off topic, that i'm getting an initial bid before the offer, an independent inspection during the due diligence/option period that may, once shared with the contractor, work to revise the initial bid into a final bid to reflect reasonable adjustments in case we missed something during the showing, negotiating and going under contract with the contractor at or before closing, then the team is out on site soon after closing, weather permitting, pursuant to the projected start date in the contract. then im paying out in phases as work is inspected/completed.

Just as quality tradesmen often don't haggle on the price of their labor, because it's a reflection of their time's worth, you should value your assets/rentals and what they are worth (but also be realistic).

Your tax records will show what your basis in the property is, hence the importance of issuing the 1099s since that will be reflected on your taxes.Also, if the rehab costs were fairly significant, $30k+, I'd definitely look into having a cost segregation done, it can be amazing!

Good payment history after a bankruptcy must be reflected.

If you were to take out a HELOC first, it will reflect in your DTI ratio when you have debt on that line and could affect your next mortgage. 

Of course, they project much better than they would if they reflected the 10s of thousands that they spent above the value that will be set by appraisal or correspondingly a buyer. 

I have seen people do a year and review of their 1st year of REI and always thought that was a GR8 idea to reflect on what you have learned in that time frame.